Business Slow this Season? 8 Strategic Moves to Boost Your Business During a Slow Season
Today, I've got a game plan for you—eight crucial things to do when your business hits a slow patch. Whether it's a seasonal downturn, a shortage of leads, or a dip in revenue, instead of idling away, let's dive into actionable strategies to make a positive impact on your business right now. Follow these tips to break out of your rut and get things moving in the positive direction this new year.
1. New Lead Generation for Business Resurgence
The first order of business during a slowdown is revving up your lead generation efforts. This involves actively seeking out new prospects who are eager to pay for your products or services. From running ads to engaging on social media or directly reaching out through emails and calls, make new lead generation a top priority. Define your ideal prospect, create an avatar, and leverage search engines like LinkedIn to connect with potential clients.
If you approach this as a law of average, you can message just 20 people per day and will have made contact with 100 leads in 5 business days. If only 5 percent of them convert, that is 5 new customers!
2. Cultivating Repeat Business: The Power of Client Follow-Ups
Unlock the potential within your existing client base. Take the time to follow up with past clients, fostering relationships and exploring opportunities for repeat business. A simple check-in, asking how they're doing and if they need assistance, can lead to fruitful conversations. This method can result in a significant number of projects, transforming past clients into reliable, repeat business.
3. Website Revamp: Elevate Your Online Presence
Use the downtime to give your website a makeover. Update blog posts, refresh visuals, and ensure your online presence remains current and engaging. While it's advisable to make such updates quarterly, a slow season is the perfect opportunity to tackle this task in one go, setting your business up for a polished and professional image.
I typically tackle these tasks in one big chunk - taking a full day to make all of my changes to the site and moving on to the next task.
4. Beyond the Basics: Exploring Alternative Revenue Streams
Diversify your income by exploring alternative revenue streams beyond your primary offerings. Whether it's podcast production, marketing strategy consultations, selling stock footage, or offering courses, find creative ways to generate revenue that complement your core business. This strategy ensures that when your primary business experiences a slowdown, other streams can help keep the cash flowing.
I personally have 9 different alternative revenue streams including offering podcast production in my studio, selling stock footage, uploading to YouTube, affiliate marketing, selling courses, and others. Think of other ways you can make money with your current skill set and take advantage of that!
5. Social Media Brilliance: Elevate Your Online Persona
Enhance your social media presence during slow days. Dedicate time to post updated profiles across your social media channels. Consider blending social media efforts with new lead generation by organizing workshops or livestream events. Engaging with your audience through these platforms not only keeps your brand visible but can also lead to valuable connections and new business opportunities.
6. Workspace Harmony: Cleaning for Enhanced Productivity
A tidy workspace translates to increased focus and productivity. Use slow periods to clean and organize your workspace. Vacuum, wipe down surfaces, and declutter. A refreshed workspace creates an environment conducive to creativity and efficient work, setting the stage for increased productivity.
7. Financial Fitness: Updating Bookkeeping Software
Dive into the nitty-gritty of your finances by updating your bookkeeping software. Whether using QuickBooks or other tools, log mileage, update banking information, and categorize spending. While not the most glamorous task, maintaining accurate financial records ensures that your taxes are in order, contributing to the overall health of your business.
8. Passion Projects: Fueling Creativity for Business Success
Lastly, take a break from the routine and engage in passion projects. Whether it's shooting a cool car commercial or creating a series on YouTube, channel your excitement into something fun. Reigniting your passion for your work can have a positive ripple effect on your business and keep you motivated during slower periods.
There you have it—eight strategic moves to maximize your business potential during a slow season. If you have additional tips or strategies you employ during downtime, share them in the comments below. Don't forget to hit the like button and subscribe for more valuable insights on videography, marketing, social media, and entrepreneurship.
Until next time, I'm Ryan Snaadt, it rhymes with odd and I will see you in the next post, Peace!